Bank of the West 2008 Annual Report Download - page 17

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bank’s size and experience as a syndication agent,
Bank of the West recruited five other banks to fund a
$120 million real-estate-secured credit facility in a
deteriorating credit environment, closing the transac-
tion in September, 2008.
Commercial Products Supplement Credit
Supplemental financial products like foreign exchange
are a key part of Bank of the West’s offering. Long-term
San Diego customer General Atomics has extensive
operations through subsidiaries in Australia, for which
the bank executed a foreign exchange hedging strategy.
And when Campos Land, a Fresno-based agribusiness,
needed financing in Euros, Bank of the West provided
funding for the transaction.
Corporate credit card use expanded in 2008, and not
just for employee travel and entertainment expenses.
Working with middle market and smaller companies
to add this product to other cash management tools,
Bank of the West relationship managers promote
card accounts for company procurement. Northern
California Caterpillar dealership Holt of California
and Control Air of Newport Beach, for instance, each
moved their accounts payable to their commercial
cards, substantially eliminating checks.
Commercial Banking and
Specialty Products
•Relationship banking for companies above $50
million in revenues
•Agricultural specialty ranks as #3 agriculture
bank in the U.S.
•Commercial real estate and construction
•Equipment finance, dealer inventory flooring
and vendor finance programs
•Religious institutions specialization
•Cash management and commercial credit cards
•International trade finance
•Capital markets products and foreign exchange
•Syndication of larger loans